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NZD/USD pares losses to trade at 0.8070/74

FXstreet.com (Barcelona) - The NZD/USD has recently bounced off the 0.8060 level, paring its losses Wednesday after earlier setbacks during the overnight session.

According to the ICN.com Technical Analyst Team, “The NZD/USD's trading is biased upside after stabilizing above 0.8065 provided it with bullish momentum. Prolonged stability above the aforesaid level could carry the pair into a fresh bullish wave, which may reach at least 0.8200.”

In these moments, the NZD/USD is trading back in positive territory at 0.8070/74 Wednesday. Technically speaking, the Mataf.net analyst team points to resistance levels at 0.8110, onto 0.8158, and ultimately 0.8188. Alternatively, a push into negative territory will eventually drive the pair towards supports at 0.8032, then 0.8002, ahead of 0.7954.

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